If you’re looking to expand your property portfolio in 2017, there’s only part of the country to focus on, according to Rightmove.
It might be cold outside, but the property market in the North West is hot hot hot according to recently released research form the portal, who suggest that buy-to-let investors looking for the double-digit rental yields should consider places like Merseyside and Lancashire.
The top locations entered into search engines include Ashton-Under-Lyne and Oldham in Greater Manchester, and Stockport in Cheshire, suggesting that tenants are keen to move to these south-after areas.
According to Rightmove, savvy landlords should investigate Bootle in Merseyside with a yield of 9.3%, Birkenhead at 7.5%, Burnley at 7.2% and Accrington at 7.1%
In the South, London’s more affordable areas, such as Rainham, Bexleyheath and Erith are looking like the best options for landlords, as tenants escape the capital in a bid to secure more affordable rental rates.
Investors looking for the strongest yields could consider investing in certain areas in the North West where both demand and yields are high. Those with a number of properties in the capital may find that tenants are more price sensitive, so setting realistic rent levels will be the key to avoiding void periods.Sam Mitchell, Rightmove’s head of lettings.
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